CFO Alex Sink Eyes Consequences of Property Tax Cuts

This week, Gov. Charlie Crist said he wanted to exclude school districts from being affected by a proposed doubling of the state's homeowner's exemption. Alex Sink says she isn't sure about that move, but wants to make sure both taxpayers and local governments won't be hit hard in the wallet.

She says we need to pay attention to what the consequences might be if some of the proposals aired by lawmakers are adopted. For example, she mentioned the Save Our Homes cap, which although it sounded good at the time - keeping taxes from being raised over 3 percent a year - ended up keeping some people trapped in their existing homes.

SINK: I think we are on the right track. There's progress that's been made. A little bit of it is we have to wait to see what the impact, what the fallout is, how it's going to work, how are the insurance companies going to position themselves.

Sink says she does backs moves to impose a cap on local government spending.